Hi there!
I've had my LLC opened since 2020; I have had an amex blue business credit card (10k initial limit; never requested a raise) in great standing for a few years now and want to begin preparing for a possible commercial real estate loan in the upcoming years.
I work in the cosmetic industry & want to open up a building where other beauty professionals rent space to take their clients.
I am wanting advice on ways to prepare for such an endeavor - what steps should I take to help future loan approval odds.
In past years I minimized my net profits with write offs on my taxes so I am assuming I should change that beginning this year - what would be a good profit $ range to report?
Should I open a new business card or request an increase in my current amex blue?
I have no business or personal debt & plan to have cash for a down payment on the loan of course as well. (What amount should I plan for?)
I am clearly just now beginning to research this new idea of mine so all other insight, advice or opinions appreciated.
TIA!!!